In August of 2015 I bought my first investment property and I have had two roomates living me and paying me rent. I am about to buy my second property and I have three tenants lined up. For the first property though, the one I am living in, I have recently had some water damage to my carpet. I am considering replacing it with laminate flooring instead of more carpet in the bedrooms. Would the laminate flooring bring value to the home that traditional carpet wouldn't? And what are the pros and cons of both?
The local flooring supply store can give you reasons to ponder for your local area. Carpet fast instal and cheap, however tenants don't clean and won't last to the next tenancy. hard surface flooring may be the rage now and easy to clean also depending on the flooring last longer thus lest repeat costs. Also be aware that some tenants will not report animals and then have later. address this head on. there can be a additional deposit and as there is wear and tear add $50/ month to the lease. thats $6,000 a year, so maybe hard surface can pay for itself in the first tenancy.
@Carl Teyssier Your math is off there. thats only 600 dollars a year :)
Laminate flooring is more resistant to stains but less resistant to water damage if not cleaned up quickly.
There are decent higher-end laminate options that are tough to distinguish from hardwood.
Also, you might price out bamboo flooring. It looks and feels a lot like hardwood, is fancier than laminate, but much cheaper than hardwood.
Best of luck!
Depends on your price point and area but if these are upstairs bedrooms also consider noise (I don't like carpet but this is a valid reason to use it). If you have water damage consider the likelihood of that occurring again. Wood flooring adds value but costs and is also not good for water areas. A nice laminate I don't think is valued over carpet (for bedrooms) but may give you a different buyer pool. People with allergies love those hard surface floors.
A lot depends on your local market. In my experience, I always go with laminate, it lasts longer, looks better and in my case, costs about the same as carpet. If you are concerned about water damage, you can buy higher quality laminate that can withstand moisture for 24 hours without any damage. If your carpet gets wet, often times you end up having to change it anyways after a short while because of the smells it the moisture leaves.
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you